Technical Indicators Completely Useless?

Nice one!!

Finn-ancially exquisite!

Excellent!

Good idea!

I only use 1 indicator, sma, but I have it set to show on all time frames. When I started trading, I found it useful in the higher times for spotting trends (although less so now ive been trading a while), but its still useful in the shorter time frames (which I use to pinpoint entry) as the fluctuations in shorter time frames can contradict the main trend so the sma acts as a reminder here.

That’s just great!
It is so encouraging, and hopefully for Newbies, very educational to see that so many experienced traders like Eddie here, Dennis, Lexy ,etc all use very few indicators (if any) - and what they DO use are very simple and basic, like a simple MA.

The number of indicators and their complexity clearly bear no correlation with trading success, in fact this clearly shows the opposite is true. This, I feel, is a really significant conclusion from this discussion for readers here that are relatively new to trading. Thanks Eddie and others.

Not all the indicators are useless, there are many traders that utilizes certain indicators and are getting good results from them. RSI is a good indicators, in fact main oscillators type indicators are good to trade.

and another one who didnt made the effort to read the thread at all :smiley:


Maybe h/she is practising the art of blind typing?

:slight_smile:

definately :smiley:

its sad thou this thread died out. Manxx took it too seriously he killd it :46:

ok sorry, ill stop spamming the forum now, wanted to see what happens when you have 500 posts

This is what happens:


good one :smiley:

It all depends where you put the space:

in Finnish: TURBO Nero = TURBO the Genius

but also in Finnish: TURBON ero = TURBO’s dismissal

I might agree with the former, but if you are not careful I just might have to arrange the latter…! :smiley:

hahaha omg i didnt know that!!! ok if i ever live in finnland ill definately change my name :smiley:

You’re welcome here any time :slight_smile:

Imo, technical indicators are not completely useless. The problem is the abuse and the misuse of technical indicators. If you use too many technical indicators, technical indicators that do not perform complementary roles or technical indicators as signals rather than as part of a few significant confluence factors, you will get stitched. Trade safe.

i completely agree. we must stop technical indicators abuse!


Obviously, technical indicator are not COMPLETELY useless.

Indicators are graphical representation of price and time for easier human visualization of price momentum,volatility etc.

Accurate definition of trend(either trending or ranging) with respect to a specific indicator are pivotal to determining whether the indicator are useful or useless.

I think that it is very important to take time frame into account with those indicators. It is all statistics. I somehow find that they are functioning best on a daily chart. Then I compare results with minute and hourly charts. If indicators shows consistency, than it is confirmed

Indicators can be useless but trading forex is also useless for most.